financetom
Business
financetom
/
Business
/
GM CEO met with Trump on Wednesday amid tariff fight -- White House
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
GM CEO met with Trump on Wednesday amid tariff fight -- White House
Mar 13, 2025 1:04 PM

WASHINGTON (Reuters) - President Donald Trump met with General Motors ( GM ) CEO Mary Barra on Wednesday to talk about the automaker's investment plans amid an ongoing tariff war, a White House official told Reuters.

Last week, Trump agreed to exempt automakers from his punishing 25% tariffs on Canada and Mexico for one month as long as they comply with existing free trade rules after a call with Barra, Ford CEO Jim Farley and Stellantis ( STLA ) chair John Elkann.

Trump told reporters on Thursday that GM had visited on Wednesday "and they want to invest $60 billion."

GM did not immediately comment Thursday on the meeting and it is not clear over what period any new spending may occur. Automakers have told the White House they need certainty about tariff and vehicle emissions policies before they can make significant changes in North American investment plans.

Trump this week imposed bulked-up tariffs on steel and aluminum impacting nearly $150 billion worth of derivative products made from the metals, ranging from cars to bulldozer blades.

The metals tariffs were hiked to an effective increase of 25% as prior exemptions, exclusions and quotas expired.

The American Automotive Policy Council, a group representing the Detroit Three automakers, noted domestic automakers purchase the vast majority of their steel and aluminum in the United States or North America but raised concerns that "specifically revoking exemptions for Canada and Mexico will add significant costs for our suppliers."

Stellantis ( STLA ) told its dealers last week it is prepared to work with Trump "to support further investment in our U.S. manufacturing footprint but we need time to make these changes without negatively impacting the business and our customers."

Trump has also threatened new reciprocal tariffs on April 2 that could drastically hike the costs of vehicles imported from Japan, South Korea and Europe.

Trump and Commerce Secretary Howard Lutnick have told automakers in meetings they want the industry to move more assembly and parts production to the United States.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Aptera Motors Shares Fall After Direct Listing on Nasdaq
Aptera Motors Shares Fall After Direct Listing on Nasdaq
Oct 16, 2025
12:57 PM EDT, 10/16/2025 (MT Newswires) -- Aptera Motors (SEV) shares fell 58% to $8.37 from an opening price of $19.99 in their Nasdaq debut on Thursday following a direct listing by the solar electric vehicle developer. The stock slumped after reaching an intraday high of $22.43. The company registered 31.7 million Class B common shares for resale by existing...
EXPLAINER-What's in Nestle's sprawling food empire as new CEO wields axe?
EXPLAINER-What's in Nestle's sprawling food empire as new CEO wields axe?
Oct 16, 2025
AMSTERDAM, Oct 16 (Reuters) - Nestle's new CEO Philipp Navratil has started with a bang, announcing 16,000 job cuts and a portfolio review that could see brands sold or partnered off as the world's largest packaged food company looks to focus on fast-growing areas. Nestle's shares leapt 9.3% on Thursday, the biggest daily rise since 2007, as investors welcomed the...
Update: Market Chatter: Goldman Sachs, Deutsche Bank Preparing $1.2 Billion Debt Sale Tied to Finastra Unit Buyout
Update: Market Chatter: Goldman Sachs, Deutsche Bank Preparing $1.2 Billion Debt Sale Tied to Finastra Unit Buyout
Oct 16, 2025
12:58 PM EDT, 10/16/2025 (MT Newswires) -- (Updates with Goldman Sachs' ( GS ) response in the fifth paragraph.) Goldman Sachs ( GS ) , Deutsche Bank ( DB ) and other lenders are preparing to offload about $1.2 billion in debt that is financing the acquisition of a Finastra Group unit, Bloomberg reported Thursday, citing people familiar with the...
Market Chatter: JPMorgan Chase to Split $20 Billion EA Buyout Financing With Other Banks
Market Chatter: JPMorgan Chase to Split $20 Billion EA Buyout Financing With Other Banks
Oct 16, 2025
12:57 PM EDT, 10/16/2025 (MT Newswires) -- JPMorgan Chase ( JPM ) will see around 15 banks participating in underwriting the $20 billion debt financing for the leveraged buyout of Electronic Arts ( EA ) , Bloomberg reported Thursday, citing sources familiar with the matter. JPMorgan ( JPM ) will keep 40% of the deal, with the other banks taking...
Copyright 2023-2026 - www.financetom.com All Rights Reserved